Ridgeline executes Nevada Gold Mines earn-in
Precious and base metals explorer Ridgeline Minerals has added a second earn-in agreement with Nevada Gold Mines (NGM), this time focusing on the Carlin-East gold property.
Ridgeline’s Carlin-East gold project is directly on trend of NGM’s Fallin discovery to the north of the Leeville mine in the prolific Carlin-Trend mining district of Nevada.
NGM – a joint venture between Barrick Gold and Newmont – can incur at least $4.5-million in qualifying work expenditures over an initial five-year term to earn an initial 60% interest in Carline-East. NGM will have further options to increase its interest to a total of 75%.
NGM will assume operatorship of the project immediately.
“Our partnerships with NGM now provide up to $40-million in total potential exploration expenditures between the Swift and Carlin-East projects, which leverages NGM’s proven track record of discovery while significantly reducing the exploration risk inherent with deep drilling in Nevada,” said CEO and director Chad Peters.
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